Nike’s stock price has fallen to its lowest level since September 2014, with its market capitalization shrinking by 78% from its all-time high.
1 hours ago
According to market data from BIT (bit.com), Nike’s (NIKE) stock price dropped more than 4% intraday today, falling below the $40 threshold to hit its lowest level since September 2014. It has shed 78% of its value compared to its 2021 all-time high, with its market capitalization now plummeting by over $200 billion. The main causes of the slump include the former CEO’s over-reliance on direct-to-consumer channels, which led to lost wholesale shelf space, stagnant product innovation, and market share being seized by rivals such as Hoka, On, Anta, and Li-Ning, as well as sharp consecutive quarterly declines in the Chinese market that have eroded investor confidence in Nike’s ability to resume growth.
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